London, United Kingdom--(Newsfile Corp. - October 30, 2024) - Edison issues report on Verve Group (OMX: VER).
Verve Group's Q324 update shows a further sequential quarterly step up in top-line growth to 31% as its privacy-first advertising solutions build traction in the market. Comparatives will now start to toughen, but this update indicates that the full year revenue figure is more likely to be in the upper end of the guided range of €400-420m, delivering adjusted EBITDA again towards the higher end of the €125-135m range. The full Q3 numbers are scheduled for release on 28 November. Despite a substantial re-rating from €1.03 at the start of the year, the valuation remains at a discount to (mostly US-based) peers, with parity of rating indicating a price of €4.75.
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